Allspring Global Investments Holdings LLC Sells 382 Shares of Northern Trust Corporation $NTRS

Allspring Global Investments Holdings LLC cut its stake in Northern Trust Corporation (NASDAQ:NTRS) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,488 shares of the asset manager’s stock after selling 382 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northern Trust were worth $1,086,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Northern Trust by 5.8% during the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock worth $446,000 after acquiring an additional 249 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Northern Trust by 9.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock valued at $1,610,000 after buying an additional 1,358 shares in the last quarter. Continuum Advisory LLC grew its position in Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Northern Trust by 9.4% during the first quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock worth $438,000 after acquiring an additional 380 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after acquiring an additional 6,570 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Down 2.4%

Northern Trust stock opened at $125.48 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.43 and a beta of 1.31. The firm has a 50 day moving average price of $129.66 and a two-hundred day moving average price of $117.33. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 earnings per share. Equities analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NTRS shares. Truist Financial upped their price objective on shares of Northern Trust from $132.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $118.00 price target (down from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. BMO Capital Markets started coverage on Northern Trust in a research note on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target for the company. The Goldman Sachs Group set a $135.00 price objective on Northern Trust in a research report on Tuesday, September 30th. Finally, Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $128.23.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.